Tag: Nigeria

Heads of FrieslandCampina, Heineken commit to increased investments in Nigeria

Heads of FrieslandCampina, Heineken commit to increased investments in Nigeria

BUSINESS
The leadership of Dutch firms in Nigeria have pledged to increase their investments in the country. The commitments were made when Nigeria’s President Muhammadu Buhari, met with some of the CEOs of the Dutch firms during his official visit to The Hague, Netherlands. According to a statement released by the Special Adviser to the President on Media and Publicity, Femi Adesina, Mr Hein Schumacher of FrieslandCampina described Nigeria as “a most important country to us,” adding that the conglomerate would invest about €11 million euros in a “ready-to-drink project, using 100% locally sourced milk.” He also pledged continuous training for dairy farmers, and provision of fortified milk for school pupils. In the same vein, his counterpart at Heineken NV, Mr Roland Pirmez commended the government

Nestlé Nigeria MD, Mauricio Alarcon appointed second VP of NECA

BUSINESS
Nestlé Nigeria’s Managing Director and Chief Executive Officer, Mr. Mauricio Alarcon has been appointed as second Vice President of Nigeria Employers Consultative Association (NECA). The announcement was made at the Annual General Meeting (AGM) of the association in Lagos on Tuesday. Mr. Alarcon has been involved in the direction of the association for the past one year as a member of governing council. He will play a key role in the governing council and management committee. NECA is committed to building a vibrant and sustainable Business Membership Organisation that is responsive to the needs of its members. It works towards this commitment by providing advice, guidance, training and development programs. Since its inception, the association has grown to become the voice of business in

Cadbury makes gaining bigger market share a focal point of sustaining profitability

BUSINESS
Cadbury Nigeria Plc, said it will make growing market share and bolstering the efficiency of its distribution system a focal point of sustaining growth and delivering better returns to shareholders. The company’s chairman, Mr Atedo Peterside, outlined the firm’s plans while addressing shareholders at the company’s Annual General Meeting (AGM) at the weekend in Lagos. He added that the company will focus on four strategic areas to drive its growth ambition in 2018, after emerging from loss last year. The areas outlined include driving growth ahead of competition to boost market share within its product categories, while also sustaining its aggressive route to market initiatives. He noted that the firm will strengthen its focus on quality improvements in productivity and operational efficien

Maltina Teacher of the Year 2018 extends entries deadline

BUSINESS
Nigerian Breweries Plc, the organizer of the annual Maltina Teacher of the Year Award has extended its deadline for entries from Monday 2nd July 2018 to Friday 20th July 2018. According to the Corporate Affairs Adviser, Nigerian Breweries Plc, Mr Kufre Ekanem, the extension was due to pressure from teachers across the country who wanted more time to participate in the award process. The Maltina Teacher of the Year Award is an initiative of the Nigerian Breweries Plc-Felix Ohiwerei Education Trust Fund to identify, showcase and reward outstanding teachers in Nigeria. Ekanem urged interested teachers to avail themselves of the new opportunity by downloading application forms from the Maltina website – www.maltina-nigeria.com/maltina-teacher-of-the-year.html. According to him, the 2018 Maltin

Coca-Cola to sell alcohol spirits in Kenya

BUSINESS
Crown Beverages Limited, a subsidiary of Coca-Cola Beverages Africa (CCBA), the continental Coke bottler based in South Africa but with footprints in over a dozen African countries including Kenya announced it has signed a deal with Italy-based Gruppo Campari to distribute premium spirits brands in Kenya , heightening up competition in that market. The deal will see Crown Beverages distribute Glen Grant Single Malt Scotch Whisky, old Smuggler blended Scotch Whisky, Bulldog Gin, SKYY Vodka and Campari’s Aperitif, among others. “We were looking for opportunities and one that came up was to do distribution agreement with Gruppo Campari (Campari Group),” said Coca-Cola Beverages Africa Managing Director Daryl Wilson in an interview. The distribution of premium liquor by Coke puts it in direct

Tasty Time disavows misuse of its products; warns public against product abuse

BUSINESS
Tasty Time Nigeria Limited, a Lagos-based manufacturer of fruit flavoured drinks has denied any responsibility or support for the misuse of its products and has warned the public against using some of its products for substance abuse. The warning follows a recent arrest by the police in Lagos of some youths who were alleged to be involved in cultism and substance abuse. The company said its premium Tasty Time Ready to mix Blackcurrant is not in any way associated with the infamous ‘Scoochies’. In a statement signed by the company’s legal counsel, Ife Ajayi, the firm said it does not produce alcoholic or intoxicating substances and warned the youth against using the company’s products for wrong purposes. “The attention of Tasty Time Company has been drawn to a media campaign aimed at evokin

PepsiCo’s Q2 profit slumps on sluggish sales of trademark soda

BUSINESS
PepsiCo on Tuesday reported a 2.4% revenue growth for the second quarter of 2018 to $16.09bn. However, the results did not mirror the performance of its North American Beverages unit, its largest segment, which declined by 1% to $5.1bn. The firm’s North American beverages unit has been posting declining sales for four consecutive quarters (since third quarter of 2017), a worrisome trend for the soda giant to consider operating it as a separate unit or spinning it off into a stand-alone public entity or do what its main rival Coca-Cola has done by refranchising them to multiple franchisees. PepsiCo CEO Indra Nooyi last quarter blamed the drop in sales of its soda unit on increased marketing and advertising spend by its main rival Coke on its cola brand. So she said Pepsi would respond by in

Labour union, Distillers Association, others reject FG’s proposed excise duty rate increase on alcohol at Senate hearing

BUSINESS
Stakeholders in the alcohol beverage industry on Monday declared their opposition to the recent 500% increase in excise duty rates on alcohol by the Federal Government. The stakeholders, which includes the Nigerian Labour Congress (NLC), Manufacturers Association of Nigeria (MAN), Distillers and Blenders Association of Nigeria (DIBAN), and the Association of Food, Beverage and Tobacco Employers of Nigeria (AFBTE) expressed their displeasure over the rate hike to a Senate Committee on Finance at a public hearing on the matter. The committee organized the public hearing following a resolution by the Senate in May for “The Urgent Need to Review the Excise Tariff Increment in order to Save Local Distillers of Beverages from Looming Extinction”. Various speakers from the stakeholders said that

NBC highlights business activities as it holds mid-year media brief

BUSINESS
The Nigerian Bottling Company (NBC) has said it will continue to improve on the quality and standard of its products to meet the needs of Nigerians. The sole bottler of Coca-Cola products in Nigeria gave the assurance while holding a mid-year media briefing in Lagos to draw attention to its major activities since it came into the country. The NBC Legal, Public Affairs and Communications Director, Sade Morgan, said that the company believes in customer satisfaction, and will continue to invest in the wellbeing of the consumer and improve on the quality of its products to meet their target. She noted that the health of its customers is a major priority for the company and has taken initiatives to produce hygienic beverages for healthy consumption as well as working to reduce waste by using a...

Golden Guinea releases year end results for 2018

BUSINESS
Golden Guinea Breweries Plc, earlier on Thursday released its full year statement of affairs for the year ending 31 March 2018. The Umuahia-based brewer which has not been active for 15 years following a fire outbreak at its facility in 2003 said in its report that it has not resumed its principal activities of brewing during the year under review as a result of the ongoing reactivation activities. The company further said that “positive efforts and active steps are being taken to recapitalize and resuscitate the company. “Rehabilitation and retooling works at the brewery are at final stages of commissioning as at June 2018. Also, positive results are being achieved in sourcing the funds and working capital required to resume operations within the next few months.” The company listed Total